Provisions of Section 142(1) of the Income-tax Act for recovery of outstanding demand. - Income Tax - 1937/1996

NSTRUCTION NO. 1937/1996 Dated: March 25, 1996 Section(s) Referred: 222 Statute: Income - Tax Act, 1961 It has come to the notice of the Board that the lack of sufficient information about the movable and immovable assets of an assessee has often resulted in delay in recovery of outstanding demand. 2. It has, therefore, been decided that in all cases selected for scrutiny, other than salary cases, the Assessing Officer shall obtain from the assessee the particulars of assets including name and address of debtors, bank accounts Bank deposits etc. The information may be obtained under the provisions of Section 142(1) of the Income-tax Act and may be utilised for early recovery of tax dues.